A r c h i v e d  I n f o r m a t i o n

FOR RELEASE 
January 20, 1995

Contact: Stephanie Babyak (202) 401-2311
Jane Glickman (202) 401-1307

ED Answers Questions On How To Choose A College And More

With competition for good jobs rising, millions of Americans are concerned about how to prepare their children for college and how to pay for it.

An updated edition of the U.S. Education Department publication, Preparing Your Child for College: A Resource Book for Parents, provides answers to some important questions: What high school courses are needed for college? What factors are important in selecting a college? How much does college cost and how can students and their families obtain financial help?

"This book offers parents a step-by-step guide to help their children achieve their education goals," said U.S. Secretary of Education Richard W. Riley. "This guidance, together with President Clinton's education agenda, which includes a tax deduction for college expenses, can help make college education a reality for Americans from all walks of life."

The release of the publication coincides with the announcement of President Clinton's new education and training initiative, the "Middle-Class Bill of Rights," which calls for:

• tax deductions of up to $10,000 a year for postsecondary expenses
• "Skill grants" to help employees pursue job-related education and training;
• tax-free withdrawals from Individual Retirement Accounts for education and medical expenses, as well as first-home purchases or care of elderly parents; and,
• tax credits of up to $500 a year for each child under age 13.

The new second edition of Preparing Your Child for College offers long-range planning tips on academic preparation for students and financial planning for parents.

On academic preparation: the handbook discusses the benefits of a college education and offers a work sheet to help students determine their career interests and courses of study needed to achieve those objectives. Suggestions are offered on high school academic courses, guidance counselor assistance, college entrance exam preparation and admission requirements. Also listed are important factors in selecting a school that meets the academic and financial needs of the child.

On financial planning: Preparing Your Child for College includes information on college costs, savings programs, and potential sources of federal and other financial aid. Examples of financial aid packages cover scenarios at 2-year public, 4-year public, and 4-year private colleges.

Preparing Your Child for College is available free by writing Consumer Information Center, Department 510B, Pueblo, CO 81009 or by calling 1-800-USA-LEARN.